MIRA
INFORM REPORT
|
Report Date : |
25.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
NEO TELE- TRONIX PRIVATE LIMITED |
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Registered Office : |
6/7, Bijoygarh, Kolkata- 700 032, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
31.01.1975 |
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Com. Reg. No.: |
21-29848 |
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CIN No.: [Company
Identification No.] |
U32109WB1975PTC029848 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALN01900D |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer and Exporter of Electrical Testing and Measuring Equipments.
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RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 9000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealing at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Arijit
Basuray |
|
Designation : |
Director |
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Contact No.: |
91-9831927749 |
|
Date : |
16.03.2011 |
LOCATIONS
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Registered Office : |
6/7, Bijoygarh, Kolkata- 700 032, West |
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Tel. No.: |
91-33-24773126 / 2403 / 24131549 / 24287410 |
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Mobile No.: |
91-9831927749 (Mr. Arijit Basuray) |
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Fax No.: |
91-33-24772403/24131549 |
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E-Mail : |
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Website : |
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Area : |
750 Sq. ft. |
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Location : |
Owned |
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Head Office/ Factory / Warehouse : |
117, |
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Tel. No.: |
91-33-2477 3126 /
2403 / 2413 1549 |
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Fax No.: |
91-33-2477 2403 |
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E-Mail : |
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Website : |
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Area: |
14000 Sq. Ft. /
1500 Sq.Mtrs |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Arijit
Basuray |
|
Designation : |
Managing Director |
|
Address: |
6/7 Bejoygarh LP
162/9/6, Kolkata – 700 032, |
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Date of Birth/Age : |
12.10.1955 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
03.10.1983 |
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DIN : |
01361158 |
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Name : |
Mr. Proteeti
Basuray |
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Designation : |
Directors |
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Address: |
6/7 Bejoygarh LP
162/9/6, Kolkata – 700 032, |
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Date of Birth/Age : |
24.09.1985 |
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Qualification : |
B. Tech |
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Date of Appointment : |
01.07.2009 |
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DIN : |
02705097 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Priyanath Ghosh |
|
10 |
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Manindra Raynath Late |
|
200 |
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Sumitabha Basuray |
|
160 |
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Ajoy Basu Ray |
|
60 |
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Arijit Basu Ray |
|
2570 |
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Sanjay Bose |
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10 |
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Subhijit Chanda |
|
10 |
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Anajali Ray |
|
80 |
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Mita Dutta |
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20 |
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Bhaskar Mukherjee |
|
10 |
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Arijit Basu Ray |
|
1000 |
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Amitabh Basu Ray |
|
20 |
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Total |
|
4150 |
As on 30.09.2010
|
Category |
|
Percentage of Holding |
|
Directors
or relatives of directors |
|
98.50 |
|
Other
top fifty shareholders |
|
1.50 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electrical Testing and Measuring
Equipments. |
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Products : |
v High Voltage Test Set v High Voltage Measuring System v Test Sets For Transformer v Instrument Transformer and Switchgear Test Set v Test Set For Motor v Test Set For Cable v Relay Test Set v Current Injection Set v Meter Test Bench v Laboratory Equipment For Research and Development . v Oil Test Set v Control
Equipment Transformer |
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Exports : |
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Products : |
v
Electrical Testing v
Measuring Equipments |
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Countries : |
·
·
·
·
UAE ·
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Terms : |
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Selling : |
L/C / Cash and Credit |
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Purchasing : |
Cash and Credit (40% advance local) |
GENERAL INFORMATION
|
Suppliers : |
Mainly buying
from Local Markets |
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Customers : |
End Users Others – Power
Sector Ø
ABB
Limited Ø
Alsthom
India Limited Ø
Andrew
Yule and Company Limited Ø
Ø
Bharat
Heaby Electricals Limited Ø
Bhilai
Steel Plant Ø
Birla
Industrial and Ø
BOC India
Limited Ø
Ø
Central
Power Research Institute Ø
CESC
Limited Ø
Chhotanagpur
Rope Works Private Limited Ø
Damodar
Cements and Slag Limited Ø
Ø
Disergarh
Power Supply Company Limited Ø
Essar
Projects Limited Ø
Excide
Industries Limited Ø
Grasim
Industries Limited Ø
Hindustan
Copper Limited Ø
Hindustan
Petroleum Corporation Limited Ø
Indian
Association for the Cultivation of Science Ø
Indian
Oxygen Limited Ø
Indian
Railways Ø
Ø
Madhya
Pradesh Electricity Board Ø
Mahanadi
Coal Fields Limited Ø
Murshidabad
Zilla Parishad Ø
Nagarjuna
Fertislizers and Chemicals Limited Ø
National
Thermal Power Corporation Limited Ø
Nicco
Corporation Limited Ø
Orient
Paper and Industries Ø
Ø
Ø
Power
Engineering Training Society Ø
Power
Grid Corporation of India Limited Ø
Ramman
Hydel Projects Ø
Reliance
Energy Limited Ø
Saha
Institute of Nuclear Physics Ø
The
Tata Iron and Steel Company Limited Ø
Tata
Metalics Limited Ø
Tata
Projects Limited Ø
Usha
Martin Industries Ø
Vishakapatnam
Steel Plant Ø
Ø
West
Bengal Power Development Corporation Limited Ø
Adex
Corporation Limited, Ø
Bengal
Small Transformer Ø
Electro
Venture Limited, Ø
Ø
Meghna
Meter Industries, Ø
Mobati
Rolling Mills Limited Ø
Mudbhary
and Joshi Construction Private Limited, Ø
Mudbhary
and Joshi Trade Link Private Limited, Ø
R K
International, Ø
Shakti
Engineering Limited, |
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No. of Employees : |
40 (in office 30 / factory – 10)Approximately |
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Bankers : |
United Bank of Old Course House
Branch, 16, |
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Facilities : |
CC – Rs.1.500
million Term Loan –
Rs.0.300 million |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
B. N. Sen and
Company Chartered
Accountants |
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Address : |
8/2, |
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Tel. No.: |
91-33-2248553 |
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Mobile No.: |
91-9433024836 |
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Pan No.: |
AXKPS5031N |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/-each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4150 |
Equity Shares |
Rs.100/-each |
Rs.0.415
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
0.415 |
0.315 |
0.315 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.766 |
1.512 |
1.190 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.181 |
1.827 |
1.505 |
|
|
LOAN FUNDS |
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|
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|
1] Secured Loans |
0.794 |
0.000 |
0.065 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.794 |
0.000 |
0.065 |
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DEFERRED TAX LIABILITIES |
0.026 |
0.019 |
0.000 |
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TOTAL |
3.001 |
1.846 |
1.570 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.798 |
1.737 |
1.990 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
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|
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Inventories |
1.052
|
1.008
|
0.315 |
|
|
Sundry Debtors |
2.988
|
4.070
|
3.558 |
|
|
Cash & Bank Balances |
0.053
|
0.063
|
1.082 |
|
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Other Current Assets |
0.000
|
0.000
|
0.000 |
|
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Loans & Advances |
2.244
|
1.682
|
1.069 |
|
Total
Current Assets |
6.337
|
6.823
|
6.024 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
2.779
|
3.861
|
|
|
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Sundry Creditors |
1.996
|
2.266
|
|
|
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Provisions |
0.359
|
0.587
|
0.467 |
|
Total
Current Liabilities |
5.134
|
6.714
|
6.444 |
|
|
Net Current Assets |
1.203
|
0.109
|
(0.420) |
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|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.001 |
1.845 |
1.570 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
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|
|
|
|
SALES |
|
13.054 |
14.189 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
12.664 |
13.820 |
|
|
|
|
|
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|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
0.390 |
0.369 |
|
|
|
|
|
|
|
Less |
TAX (I) |
|
0.127 |
0.249 |
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-I) (J) |
|
0.263 |
0.120 |
|
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Earnings in Foreign Currency : |
|
1.965 |
1.644 |
|
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|
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|
|
Earnings Per
Share (Rs.) |
|
63.37 |
38.09 |
Expected Sales (2010-2011) : Rs.16.000 millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.01
|
0.84
|
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.99
|
2.60
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.79
|
4.31
|
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.20
|
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.72
|
3.67
|
4.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
1.02
|
0.93 |
LOCAL AGENCY FURTHER INFORMATION
Trade References : DME Geocto Plus
Bankers Charges
Report as per Registry
|
Corporate
Identity Number |
U32109WB1975PTC029848 |
|
Name of the
company |
NEO TELE-TRONIX
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
6 7 BIJOYGARH,
KOLKATA, West Bengal –
700032, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable property Movable Property Book debts |
|
Particular of
charge holder |
United Bank of Old Course House
Branch, 16, |
|
Nature of
instrument creating charge |
d Promissory Note Letter of
Continuity Hypothecation of Debts
and Movable Assets Hypothecation of
Goods Hypothecation of
movable plant and Machinery Letter of
guarantee Link Letter Extension of
Equitable Mortgage Letter of Line |
|
Date of
instrument Creating the charge |
11.08.2010 |
|
Amount secured by
the charge |
Rs.3.500 million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
-BR + 3.75% i.e. 12.00% p.a. on monthly rest. ROI is subject to change as per
H.O./RBI guidelines from time to time Terms of
Repayment - On demand Margin - Cash
Credit : 25% on stock and receivables Bank Guarantee :
10% (cash margin) Extent and
Operation of the charge - as per document attached preimary |
|
Charge
identification number of the charge to be modified |
80049054 |
|
Short particulars
of the property charged |
PRIMARY : i)
Hypothecation of Company's entire Stock & Book Debts and other current
assets present & future ii) Hypothecation of Company's Plant &
Machinery present & future ADDITIONAL: Equitable mortgage of factory land
& building at Rajpur in the name of the Company valued at Rs.3.476
millions as on 12.5.2010 Line of FD of Rs.0.517 millions in the name of the
company Personal Guarantee of the director combined net worth Rs.0.660
millions as on 31.03.2009 |
|
Particulars of
the present modification |
By this
modification, the overall limit has been enhanced from Cash Credit Limit of
Rs.1.460 millions T/L of Rs.0.225 millions and BG of Rs.0.650 millions to
Rs.3.500 millions comprising of cash credit limit of Rs.2.500 millions and BG
limit of Rs.1.000 millions. |
FIXED ASSETS:
v Land
v Generator
v Motor Car
v
Factory Shed
v
Plant and Machinery
v
Furniture and Fixture
v
Electrical Instruments
v
Fan Account
v
Computer
v
Fax Machines
v
Air Condition
v
Type Writer
v
Bi- Cycle
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government official
or a family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.